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they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says that
they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american...
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Jan 14, 2013
01/13
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ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer...
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Jan 17, 2013
01/13
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the nation's debt ceiling. to cut to red, my next guest advocates more green when it comes to health care. the called the health reduction. she said there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this would be completely by choice -- for people who don't want to pick this public option, among the private sector choices within a health exchange, and rates for premiums are estimated to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush'
the nation's debt ceiling. to cut to red, my next guest advocates more green when it comes to health care. the called the health reduction. she said there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this...
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Jan 15, 2013
01/13
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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for example they have a another crisis debt ceiling the rating agencies are going to say we're going to cut your rating from aaa it was already downgraded once very few credits down the world have aaa which means that the collateral holding up the devil's derivatives the really the biggest ponzi scheme of all if you thought i am i was a ponzi scheme it's nothing compared to the devil's derivatives so the collateral is collapsing nick dunbar even the ability to float massive ponzi scheme our central banks related fraud by fraud meisters like jamie diamond east still need a aaa rated credit but now those are disappearing what's going to happen in six months from now when there is no aaa rated credit at all in the world and this whole gram of derivatives chicanery. it just goes away doesn't it well you say it's a good thing that people haven't got the illusion of aaa safety and some ways it was a substitute for doing your own homework actually looking under the hood and seeing whether an investment was was a really as safe as people said it was done by our author of the devil's derivati
for example they have a another crisis debt ceiling the rating agencies are going to say we're going to cut your rating from aaa it was already downgraded once very few credits down the world have aaa which means that the collateral holding up the devil's derivatives the really the biggest ponzi scheme of all if you thought i am i was a ponzi scheme it's nothing compared to the devil's derivatives so the collateral is collapsing nick dunbar even the ability to float massive ponzi scheme our...
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Jan 16, 2013
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. >> now the ongoing debate on capitol hill over the debt ceiling. charles krauthammer is taking on the on thepresident's approach. the president isn't interested in fixing the problem but instead breaking the gop. >> the entire strategy for the fiscal cliff was to split the republica republicans. it hading in to do, his offers had nothing do with solving the fiscal he shall ue or solving the debt. he showed no interest in reducing the debt since the day he was elected in 2008. he appoints a commission two years later he ignore it is. he never talked about structural cuts or entitlements. he wants the entitlement states if you want a european entitlement state you need taxation. his strategy is to split, fracture and therefore neuter the republicans in the house. that is all that stands between him and total dominance in washington in his second term. he wants a return to 2009 and 2010 when he had control of both houses he had a super majority in the senate huge majority in the house and revolutionized healthcare and hugest spending in galactic histo
. >> now the ongoing debate on capitol hill over the debt ceiling. charles krauthammer is taking on the on thepresident's approach. the president isn't interested in fixing the problem but instead breaking the gop. >> the entire strategy for the fiscal cliff was to split the republica republicans. it hading in to do, his offers had nothing do with solving the fiscal he shall ue or solving the debt. he showed no interest in reducing the debt since the day he was elected in 2008. he...
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Jan 19, 2013
01/13
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>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the continuing resolution and sequester cuts where they would like to make their last stand there for cutting getting spending cuts and allow on temporary extension without not much attached to it. >> heather: let's talk about the economy. the president starts his new term. less than 1% rate it as excellent. 9% say it's good shape. that is up a touch from his first inauguration but 91% of voters say economic conditions negatively today. why are we here again? >> you have to wonder. i point you back to november the conditions haven't changed all that much in two months. i would imagine
>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the...
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Jan 16, 2013
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debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we will see the sequester, the path of least resistance. congress has to do something to prevent the sequester and the president agree to it. it's unlikely, 1$1.2 trillion, using the dollar for dollar basis, do it twice and -- >> have you seen "41," movie, "41." i saw a couple clips and president bush talking about the nixon year, because he was there and what was it like to be a republican. he said it was not a great time to be a republican at the end of the nixon era and the prospects for the party didn't look very positive. i don't know. it
debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we...
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Jan 18, 2013
01/13
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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Jan 16, 2013
01/13
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...
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Jan 17, 2013
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take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the trade of many people's lifetimes, but with the courages sill at multiyear lows. and the meeting next week, will the trade last? it's the "money in motion" section. good morning. >> good morning. good to be with you guys. what about this dollar/yen trade? obviously the dollar is substantially higher today, but monday/tuesday/wednesday, we've reversed the trend, the yen was actually higher. where do we go from here? >> i think steve's presentation is one of the reasons i'm cautious on this trade. we're within a whisker of the obvious target. i think that trade level will stall. to me i think the better trade is to tak
take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the...
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Jan 15, 2013
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>> reporter: house speaker john boehner says the american do not support raising the debt ceiling without cutting spending at the same time. boehner calls the debt an anchor on our economy. here's the leading senate republican, making his point. >> it's sort of like you have a kid who exceeds the credit card limit. you tear up the credit card, but you look at the spending. the republicans are willing to pay for past bills. these are about future bills. the president is missing the point that we are on an unsustainable path. >> reporter: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certai
>> reporter: house speaker john boehner says the american do not support raising the debt ceiling without cutting spending at the same time. boehner calls the debt an anchor on our economy. here's the leading senate republican, making his point. >> it's sort of like you have a kid who exceeds the credit card limit. you tear up the credit card, but you look at the spending. the republicans are willing to pay for past bills. these are about future bills. the president is missing the...
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Jan 19, 2013
01/13
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we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whatever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been down graded as a result of it? >> i remember as a kid i don't know elementary school or junior high when bewere talking about the debt it was something like 4 trillion. and our teachers asked us to wrap our heads around that number. try wrapping your head around 16 trillion. i just can't imagine. to pay that down how many years that would take. even with being smart with government spending. >> it's larger than our entire economy just to put it in some scale here. >> that's a problem. yeah. i remember when i was a kid going to the gas station and thinking wow why the t
we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whatever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has...
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Jan 19, 2013
01/13
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a clean debt ceiling is the only way to go. when we get to march 2nd and the sequester deadline approaches again, we need to focus on a balanced debt ceiling focus. that's what this is about. the americans made a decision. they embrace president obama's idea that we should have revenue and closed tax loopholes for the wealthiest pay more and reduce spending in a balanced way. >> i think what people also hoped that they were voting for was the democrats and republicans would get in a room together and would cooperate. >> that's right. >> and what i think a lot of people are concerned are is we're not seeing that happening yet. this is supposed to be a day when we see everything reset and start over, but we have the same congress. ebb wants to know is this going to change, is there any hope for change? >> i'm full of hope. if think we have an opportunity to continue to reach across the aisle. i noe president obama and the republicans are willing to reach out. we cannot begin the second term with president obama's engaging in my w
a clean debt ceiling is the only way to go. when we get to march 2nd and the sequester deadline approaches again, we need to focus on a balanced debt ceiling focus. that's what this is about. the americans made a decision. they embrace president obama's idea that we should have revenue and closed tax loopholes for the wealthiest pay more and reduce spending in a balanced way. >> i think what people also hoped that they were voting for was the democrats and republicans would get in a room...
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Jan 16, 2013
01/13
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over raising the debt ceiling. a loss of confidence in the u.s. dollar. dunkin brands has set its sights on the golden coast again. they will be opening up shop in southern california in 2015. returning to the state after more than a decade. the dow is down 25 points. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: we are back here on market now. bringing back $36 million worth of gold. the bank said in a statement, it will repatriate gold stored in paris and new york. this follows some criticisms that came in over the oversight of gold. new york still has 37% of the reserves. dagen: that is pretty cool. sobering news for energy drink consumers. the number of people visiting ers or emergency rooms after drinking the beverages has doubled nationwide. that is up more than 10,000 cases from 2007-2010. it is a rising health problems that can cause insomnia, fast heart rate and seizures. movement by the government potentially to regulate the sale of these drinks. like fda. we shall see. if you drink too many of t
over raising the debt ceiling. a loss of confidence in the u.s. dollar. dunkin brands has set its sights on the golden coast again. they will be opening up shop in southern california in 2015. returning to the state after more than a decade. the dow is down 25 points. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: we are back here on market now. bringing back $36 million worth of gold. the bank said in a statement, it will repatriate gold stored...
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Jan 17, 2013
01/13
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let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private p
let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress...
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Jan 19, 2013
01/13
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the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the p
the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say,...
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Jan 17, 2013
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the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's plan to bring down spending dollar for dollar makes a lot of sense and i think pat toomey's does. you don't want to cut very things most critical to the u.s. there is lot of garbage spending in government, believe me, bill, when i say that. why would you make the critical spending the first things you're going to cut except just to hold the country hostage. that is what the democrats are threatening. it doesn't make sense. bill: do you think republicans can win on either option? >> if they do it carefully, slowly and comfortably, yes i do think they ca
the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's...
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Jan 14, 2013
01/13
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president obama has said he will not negoatiate on raising the $16.4 trillion debt ceiling, while house republican leader john boehner is insisting a debt increase would have to be accompanied by spending cuts to programs such as medicare. boehner has promised a vote tomorrow on $51 billion in aid to hurricane sandy vicitms. theres alot up in the air at boeing after a series of leaks and electrical glitches last week involving its latest aircraft, dubbed the 787 dreamliner. the faa will begin reviewing how the airliner is designed, manufacturered and assembled, with particular attention to the miles of electrical wiring used instead of heavier hydrallic systems. in a statement, boeing says "we are never satisfied while there is room for improvement. we welcome this opportunity to conduct this joint review." joe schwieterman of depaul university says it is too early for investors to be worried. "investors get nervous when there are these rollouts and there are problems. if this gets worse, boeing's stock could be affected, but i doubt it will be at this point. but who knows what will be
president obama has said he will not negoatiate on raising the $16.4 trillion debt ceiling, while house republican leader john boehner is insisting a debt increase would have to be accompanied by spending cuts to programs such as medicare. boehner has promised a vote tomorrow on $51 billion in aid to hurricane sandy vicitms. theres alot up in the air at boeing after a series of leaks and electrical glitches last week involving its latest aircraft, dubbed the 787 dreamliner. the faa will begin...
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Jan 17, 2013
01/13
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. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i agree. the debt limit should be raised. >> should be raised with spending cuts and policy changes. >> why. >> so we can put our nation on a path to balance. >> why not have the fight on resolution. you're talking about future spending and not threatening the full faith and credit of the u.s. government. >> nobody is threatening the full faith and credit. >> it undermines your argument to have it during the debt ceiling debate. >> we can have this debate right now. we need it for the next month and come together a month from now and figure out where we stand
. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i...
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Jan 17, 2013
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to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior political analyst. brit hume. good evening. >> hi, bret. >> the house republicans are not wrong to seek spending cut to allow borrowing by a treasury more than $16 trillion in debt. but in politics it's not enough to be right. you need to be effective. it requires recognition that politics is a team sport and being united is critical. this is true if the party controls one house of congress and the other party not only has the other one but the white house as well. consider what happened in the recent fiscal cliff end game. taxes were set to go up by law on january 1. some h
to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior...
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Jan 16, 2013
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rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, socia
rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in the first place. it would do so by removing the cap on the treasury of borrowing money. its chances of passage in the republican controlled house are basically slim and none. but at least it allows democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare
get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in...
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congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our bills. congress has two choices here. we can act responsibly and pay america's bills. or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. jenna: republicans like congressman jason chaffetz blasting back against the president. >> i think the president was terribly irresponsible today. to say he will not talk about it because he is above it, but blame all of congress, in part congress helped create this problem but we are going to hear to solve this pr
congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our...
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ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that apple. stuart: this is a financial issue. it's a budget issue, so they need a straight up or down vote in the senate and the democrats have a majority in the senate, but i'll put it to you, a couple of democrats there, who are going to say we're not all for more and more and more taxes because we know what it's going to do to the economy. it's not a done deal, is it? they're pushing for it, but it ain't done. >> listen, harry reid, remember when john boehner was going to bring the vote to the house and he didn't have the votes after he'd said i'm going to bring the vote to the house. i have a sus
ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that...
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the constitution allows him to raise the debt ceiling on his own, again, congress be damned. add it up, i'm telling you, barack obama is doubling down. and here's the kicker. with plenty of compliant democrats in congress to help. but those democrats might regret what they're aiding and abetting, because they're the ones who'll be fumbling and fuming. when nancy pelosi pushes the 14th amendment to give the power to bypass congress, she is giving him the power to bypass her too. you don't need a trillion dollar magic coin to realize this is nothing less than a high stakes power grab. now, it's not unusual for presidents of either party to try. it is very unusual for so many in both parts to lay down and let him do it. all right, here to hash it out, constitutional expert ilya shapiro and sabrina schafer as well as "the wall street journal"'s steve moore. steve, a disturbing series of events, to put it mildly. >> no question about it, neil. and, look, we have a three-branch system of government in washington. the president is the chief of the executive branch, that means the pr
the constitution allows him to raise the debt ceiling on his own, again, congress be damned. add it up, i'm telling you, barack obama is doubling down. and here's the kicker. with plenty of compliant democrats in congress to help. but those democrats might regret what they're aiding and abetting, because they're the ones who'll be fumbling and fuming. when nancy pelosi pushes the 14th amendment to give the power to bypass congress, she is giving him the power to bypass her too. you don't need a...
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but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran. >> it's hard to believe if we can't get a meaningful negotiation within the next two years that you will not have it read capable of producing a nuclear weapons. then, the u.s. has the choice in its negotiations -- will the solution be containment or is it going to be a preventive strike? >> as he takes the oath again, he will do it with the experience of that presidencies are often formed by crises that happened outside of their control. he will know all folksy brought here last i did not change washington. he will try something -- you have to try something new if you want to accomplish his ambitious agenda thi
but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran....
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. >>> onto the debt ceiling. the deadline approaching so it washington on the verge of killing an economy that many people think is actually experiencing a very nice little rebound? we're going to ask loan ceo jim tisch when "power lunch" returns. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> four days before the inauguration the latest nbc wall street journal poll is out with the breaking news. john harwood in washington. john? >> tyler, we've just got one question. the full poll comes out tonight but this shows you some of the difficulty president obama is going to face with this gun control issue he's pursuing. look at the public image of the national rifle association. it shows you it's a pretty tough target. at three different decision points after tragedies, columbine they had
. >>> onto the debt ceiling. the deadline approaching so it washington on the verge of killing an economy that many people think is actually experiencing a very nice little rebound? we're going to ask loan ceo jim tisch when "power lunch" returns. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the...
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will we avoid the debt ceiling cliff? house republicans will consider a plan to extend the debt limit deadline. why that may set up an entirely different kind of cliff. we'll take you live to washington and john haar woovmtd flagged this in my observation yesterday. should the eligibility age to social security be increased to 70 years old since americans are living a lot longer than they did when the social security program was first set up? stick around for a heated debate and the body of a million dollar lottery winner murdered by cyanide poisoning right after he won has been exhumed. the medical examiner is talking, and we'll have the very latest developments of what went on. stay with us. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. introducing the all-new 2013 lexus ls f sport. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does
will we avoid the debt ceiling cliff? house republicans will consider a plan to extend the debt limit deadline. why that may set up an entirely different kind of cliff. we'll take you live to washington and john haar woovmtd flagged this in my observation yesterday. should the eligibility age to social security be increased to 70 years old since americans are living a lot longer than they did when the social security program was first set up? stick around for a heated debate and the body of a...
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he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant legislation. >> congressman king in the studio after my asking all the time. >> i couldn't stay away from you, soledad. >> she's not really a tough interviewer is she? >> she's very nice and multiracial -- >> are we rolling on this? i love this. keep the nice part. i would appreciate that. >> she was the irish-american woman of the year, there you go. >> and i accepted. nice to have you congressman, appreciate it. >>> other stories making news john has that for us. >> lots of questions about the story involving notre dame's manti te'o and his girlfriend who was suppose
he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant...
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. >>> to washington now where yet another battle is brewing, this time it's over the debt ceiling and from the white house to capitol hill democrats and republicans are sparring over the best way to ensure the nation pays its bills and now they're taking the fight to you as both sides try to sell their point of view. president obama warning about what could happen if that debt limit is not raised. >> if congressional republicans refuse to pay america's bills on time, social security checks, and veterans benefits will be delayed. we might not be able to pay our troops or contracts with small business owners. investors around the world will ask if the united states of america a safe bet. >> the republican house speaker john boehner responding immediately to the president's remarks issuing a statement that read "the american people do not support raising the debt ceiling without reducing government spending at the same time. the consequences of failing to increase the debt ceiling are real, but so, too, are the consequences of allowing our spending problem to go unresolved." joining us i
. >>> to washington now where yet another battle is brewing, this time it's over the debt ceiling and from the white house to capitol hill democrats and republicans are sparring over the best way to ensure the nation pays its bills and now they're taking the fight to you as both sides try to sell their point of view. president obama warning about what could happen if that debt limit is not raised. >> if congressional republicans refuse to pay america's bills on time, social...
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stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible then we can move on. it makes us look embarrassing to the rest of the world. stuart: what do you think the odds are of a downgrade? >> i think there's a 30% chance, maybe 35% chance. stuart: okay. we will check it out. thank you very much scott shellady always a pleasure. the cost of college tuition continues to rise, got it, but the number of students enrolling is on a decline. fears of massive college debt and the lack of job opportunities when you graduate, that has a lot of families realizing that maybe college isn't worth the investment. joining us now is the au
stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible...
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might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think that is good news pushing the debt ceiling out for stocks and i think generally would you look at it as good news, it certainly is fairly muted here. as for the major indices for the week, what simon was just talking about, there are deeper cyclical changes. big industrial names have been generally outperforming and that is very good news, if you think the global economy, those stocks would more closer would the global economy. >> you get this, this real tight hugging of the flat line friday. monday, tuesday, wednesday and then again today.
might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the...
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes that the american people may be saddled with. stu varney is varney and company on the fox business network. they're not the majority in the house, but there is he' a push to make them the majority in the house. and president obama is reportedly maneuvering in a lot of ways, politically now to try to set the democrats up to retake control of the house and there's a question about whether as soon as 2014, if they get their way, they're going to get rid of the debt ceiling. what would that do? >> what they want is unlimited borrowing by the administration so the treasury can say, i want to borrow, this, this, this,
ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes...
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there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another downgrade? >> that's a critical question. that's why the democrats are likely to define default as missing any government payment becaus
there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen,...
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and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. ♪ you know my heart burns for you... ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief s! >>> the board of jpmorgan cutting jamie dimon's pay by 50% in light of a multibillion dollar loss last year. down from $23 million from the year before. that brings us to this morning's squawk on the tweet. how might jamie dimon tighten his belt. tweet us at squawk street. there's a lot of -- i don't want to say hatred, but ill wi
and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price"...
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we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone right now but i do think there are great opportunities in northern europe and germany remains as the one gem in europe in terms of that economic prowess. lori: tell me about the emerging markets. these economies in many ways are outperforming the u.s. many say put emerging markets into retirement if you want to earn a decent yield at this point you have to mix it up with the emerging markets. not alternative investment it used to be. >> correct. the old bric trade from 2007 and pull out r and o, invest in brazil and china those are two countries to be in. europe and u.s.
we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone...